Synergy Spine Solutions Announces $30M Financing

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Jan 31, 2024, 11:00 ET

LOUISVILLE, Colo., Jan. 31, 2024 /PRNewswire/ -- Synergy Spine Solutions, an innovative medical device developer focused on artificial cervical disc replacement, announced today that it has closed on a significant equity financing of $30 million.

The Series A financing was led by a new institutional investor, Amzak Health, and joined by other investors. The proceeds will be used to complete enrollment of Synergy's U.S. IDE 2-level clinical trial, continue patient follow-up on both the 1-level and 2-level clinical trials, submit anticipated Pre-Market Approval applications to the FDA, as well as to support continued commercialization in markets outside the United States.

Synergy remains at the forefront of addressing the critical need for innovative solutions in cervical disc replacement. Enrollment for the Synergy Disc® 1-level IDE trial was recently completed in June 2023.

The 2-Level trial will evaluate the safety and effectiveness of the Synergy Disc® artificial cervical disc compared to anterior cervical discectomy and fusion (ACDF) for the treatment of degenerative disc disease in subjects that are symptomatic at two contiguous vertebral levels from C3 to C7. This is a multi-center, prospective, non-randomized, historically controlled study that will be conducted on 200 patients at up to 25 sites.

"We are excited about this next chapter of Synergy's growth," said Josh Butters, CEO of Synergy Spine Solutions. "We look forward to welcoming Amzak Health to the Synergy team that has worked incredibly hard to get to this point. We remain focused on completing the 2-level study and to bringing the Synergy Disc® to the U.S. market, as it represents an important treatment option for patients suffering from degenerative disc disease and was specifically designed to restore both motion and alignment to the cervical spine."

With this investment, Joyce Erony of Amzak Health has joined Synergy's Board of Directors. "We believe in Synergy's dedication to advancing patient care and reshaping the landscape of cervical disc replacement," said Joyce. "We are very excited to be a part of their evolution and future growth."

Synergy Spine Solutions

The Vision of Synergy Spine Solutions is to identify and commercialize innovative spine technologies that help surgeons improve their patients' quality of life and advance the standard of care. The company's flagship product, the Synergy Disc®, is the only device that is designed to restore both motion and alignment to the spine.

Media Contact:
Tim Hein
VP of Sales and Marketing
[email protected] | +1 360 991 6300

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SOURCE Synergy Spine Solutions